MOSCOW, April 2 (RAPSI) – The blockchain technology along with the Initial Coin Offering (ICO) will be legally regulated in Russia, First Vice Prime Minister Igor Shuvalov said during “The Intellectual Property in Digital Age” meeting on Monday.

According to Shuvalov, regulation of blockchain and requirements for ICO will be written down in the directives of Russian state ministries and would not require a special law or a category of law.

At the meeting the experts said that there is no need to create separate laws for all of the promising trends of the digital economy including blockchain. For example, the head of Russia’s Intellectual Property watchdog Rospatent Grigory Ivliyev said that the service is already using and integrating blockchain technology.